Geopolitics and Economic Sustainability Nexus

Abstract

New trends in market relations require new methods to solve issues towards TNCs and other actors within multilateral diplomacy. The use of economic diplomacy and responsible business is essential for TNCs to achieve the sustainability in global trading system. It is important due to frequent political changes in the modern world, to which TNCs are highly susceptible, and therefore, must be reliably protected by revised international law, clearly enshrined into relevant multilateral agreements. As the legal status of TNCs is somehow blurred, the cases of unstable TNCs performance due to political atrocities may occur. The latter leads to disruptions in their work making them to obey states' interests and further concern of the issue from states and global business entities. The disruption of both agent interests creates an overall economic instability and negatively affects the process of sustainability achieving. The work summarizes some problems TNCs face due to confrontation between states, and the question of the importance of economic diplomacy use and legal support for TNCs.